An analyst hits the end of the month for Bitcoin 2 months in a row and his goal for the end of October is $ 63,000

Bitcoin (BTC) was poised to hold $ 44,000 levels on October 1st. because the end of the month caused a show of force at the last minute.

BTC / USD (Bitstamp) 1-hour candlestick chart. Source: TradingView

BTC’s monthly close is in line with PlanB’s forecast

Continuation of data from Cointelegraph Markets Pro and TradingView on the BTC / USD pair as it returned to the $ 44,000 mark for the first time on Thursday and then tested lower levels before going any higher.

Although it hasn’t met resistance at $ 45,000 or more, Bitcoin did not disappoint with its performance at the end of the month and almost exactly matched the predictions of the creator of the stock-to-flow model PlanB for the second month in a row.

An analyst hits the end of the month for Bitcoin 2 months in a row and his goal for the end of October is $ 63,000
An analyst hits the end of the month for Bitcoin 2 months in a row and his goal for the end of October is $ 63,000

Since the forecast for October is now $ 63,000, Expectations are high that Bitcoin will regain lost ground in the fourth quarter.

“September was bad. October is great. November is great. December is great.”,TO summarized Cointelegraph employee MichaÃl van de Poppe telling his Twitter followers to “buy during the damn price drop”.

Van de Poppe highlighted the historic achievement for several months each year, something Cointelegraph previously noted that made September practically “boring” to 30 days.

Others, however, were more cautious. In its latest market update, the cryptocurrency trading company QCP Capital said it would remain cautious in its approach to the broader market.

“Usually, We are struggling to find directional belief in the face of crosswinds from the macro and market. Our strategy for the fourth quarter is to remain relatively neutral and agile. “summarized the executives.

The macroeconomic factors were the repetition of China’s repressive measures against cryptocurrencies and two problems in the United States: Legislation and possible approval of a Bitcoin Exchange Traded Fund (ETF).

On Friday, a vote on the government’s infrastructure law originally planned for Monday was postponed again after a shutdown was avoided in a separate vote later this month.

The price of Ethereum is returning to $ 3,000

The altcoins, for their part, returned to record 24 hours of movement between humble and flat. again led by Binance Coin (BNB), with daily gains of 6%.

Nevertheless, the top ten cryptocurrencies by market cap were in the green at the time of this writing, a refreshing contrast to recent moves.

Ether (ETH), the largest altcoin, traded above $ 3,000 with a yield of 3%.

ETH / USD 1-hour candle chart (Bitstamp). Source: TradingView

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